Our latest Consumer/Retail Breakfast with Martin Newman

We recently hosted a well-attended breakfast on the theme of customer experience and concluded that, for consumer-facing industries, the web has changed EVERYTHING. Back in the 1990s, retail was about location, location, location. Now it is about any time, any place, anywhere. Power is in the hands of the consumer.

Technology is the conduit and enabler – not the starting point. We keep hearing about ‘digital transformation’, but what we are really facing is customer-centric transformation.
Businesses need to be aware that brand is not the most important thing to customers – convenience is. The key to the success of disruptors, like Uber or Metro Bank, is their customer-first approach. With technology enabling the emergence of many more such competitors, building customer loyalty is vital. ROI shouldn’t just be about investment, it needs to be about ‘return on involvement’. Engaged customers are advocates who attract other customers; they buy more frequently and are more loyal, therefore more profitable: according to Harvard Business Review, a five per cent increase in customer retention converts to a 25-95 per cent increase in profit.

Consequently, businesses should consider their structure around customers not channels. Most consumer and retail businesses are still operating in siloed channels. Separate digital and instore teams are never going to deliver the integrated experience that the mobile-savvy customer wants. To drive change, organisations need to consider new executive roles. These include a chief customer officer with a mandate to define and deliver ‘what we need to do’ to achieve the new customer-facing approach; a change agent to answer the ‘how we need to do it’ question; and a chief insight officer to interpret data and turn it into actionable insights. We are also witnessing the creation of a cross-functional ‘customer enablement team’. This is a steering group made up of directors and functional heads, but also colleagues across the business to ensure that the new customer-first approach is being delivered within core operational areas. Shadow boards made up of digital natives can also prove highly effective in helping businesses use technology to maximise customer experience.

If you would like to discuss these issues in more detail, please contact us for an initial, confidential conversation: Lucie Shaw, lucie.shaw@normanbroadbent.com
Norman Broadbent hosts regular breakfast briefings with thought leaders. If you are interested in attending future events, contact Sian Burke, sian.burke@normanbroadbent.com

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CFO to NED: Discuss


Building on a strong legacy and reputation in the CFO and Non Exec community, Norman Broadbent Group recently hosted another successful and stimulating breakfast. As usual we tackled a number of topics; however that particular morning’s question was “Why do CFOs want to become Non-Executive Directors?”

In today’s business market, with increasing challenges around governance and conduct, NEDs come into their own at a time of crisis when probing questions are asked, and tough decisions have to be made.

Over breakfast – and with the help of three exceptional NEDs as guest speakers – we talked about three key areas that would provide insight to CFOs considering the transition to NEDs. These were:

  • The core traits company’s look for in an NED
  • Why do CFOs want to become NEDs?
  • The key differences between an Executive and Non-Executive role

The core traits company’s look for in an NED

Our guest speakers shared their invaluable insight regarding the core traits a company may focus on when selecting a NED:

  • Likely to be well respected in their industry, they will be credible with a proven track record of relevant achievement
  • Reflective and considered, they will be able to listen, probe and challenge constructively
  • With an independence of mind, they will understand the need for, and accept, collective responsibility
  • Although from an executive background that is often ‘hands-on’, they will understand the boundaries of Executive and Non-Executive roles.

Why do CFOs want to become NEDs?

So why do a significant number of CFOs wish to further develop their careers by taking on an NED role? From our experience, the reasons are varied and include:

  • Gaining new insights into other sectors and businesses
  • Understanding how different boards function
  • Gaining new boardroom skills and experiences
  • Being able to sit on several boards, and building a portfolio of NED roles

However, while CFOs cite all of the above and more, the overwhelming majority of CFOs say the underlying driver is the ability to play an influential role in the future direction of a company.

The differences between an Executive and Non-Executive role

Firstly, a key difference is that whilst influencing skills are important in both roles, when sitting at board level, influence is ‘top down’. This ‘influencing’ is primarily aimed at the CEO. It can therefore take longer for an NED to see their influence take effect which can prove frustrating for some. Secondly, the advice given is not necessarily followed. Because of these factors, maintaining a close relationship with the CEO becomes vital in ensuring the NEDs influence is positive and impactful. Finally, another factor relates to who gets the credit. A frustration for many NEDs is watching the CEO take the credit. Some NEDs comment they often feel like an outsider, and miss the team dynamics of being part of a direct leadership group.

As always, we were thrilled to provide a forum for discussion. Our Board heritage and 40 year track record of success in the Executive and Non-Executive space meant we were able to draw together an interesting network of senior executives.

If you would like to know more about our experience and expertise across the Executive and Non-Executive space, or to confidentially understand how we may help you and your company, please contact Tim Hammett (Managing Partner, Executive Search and Board Practice) or Jonathan Stringer (CFO Practice, Interim Executive Management) at:

tim.hammett@normanbroadbent.com / +44 (0) 20 7484 0084
jonathan.stringer@normanbroadbentinterim.com / +44 (0) 020 7484 0036

 

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‘How To Manage Consultancy Spend And Get Better ROI’ Business Breakfast: 14th March 2018, London

 

Consultancy spend, often highly fragmented and relationship driven, can be particularly challenging to manage. Many companies which would not allow a hotel to be booked without going through the correct channels will nevertheless allow £millions to be spent on consultancy without particularly rigorous review.

For many organisations, change is a constant. With that comes high value transformation programmes, investment in technology and the use of advisory services to ready them for the next piece of regulatory change coming down the track. Rarely are the high expectations set by consultancy firms met and often only with significant overspend. As a result, clients are forced to freeze spend – recognising that if they cannot buy such services effectively then they just need to stop.

How to Manage Material Consultancy Spend is the aim of this Breakfast, addressing the issues which major clients face when buying all types of consultancy (including accountancy), whether one-man-band, boutique or big brand.

The Breakfast, in Partnership with Norman Broadbent Interim Management, will be led by Alan Gotto from Constellia, a recognised leading expert on consultancy spend management. Alan has over 20 years experience and expertise in this area, working with clients as diverse as Aviva, Deutsche Bank, John Lewis, Thomas Cook and the London Stock Exchange on all forms of external advisor engagement.

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Video 2: Norman Broadbent Transport & Infrastructure Breakfast, The Impending Transport Revolution

The Norman Broadbent Group are delighted to release the second of 16 videos from our hugely successful Transport & Infrastructure breakfast event.

The incredibly insightful two hour session featured Richard Threlfall, Global Head of Public Transport, Partner and Head of Infrastructure Building & Construction at KPMG.

To request exclusive access to the entire video series, please email nick.behan@normanbroadbentinterim.com.

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Event Review: Cornhill Club Dinner, Tuesday 16th January 2018

Norman Broadbent was delighted to sponsor this month’s Cornhill Club Dinner, held on the evening of Tuesday 16th January 2018 at the Royal Automobile Club in London.

The evening’s special guest was Sarah Bates, Chair of St James’s Place Wealth Management, one of the few women to Chair an FTSE 100 organisation.

With a highly successful career, having working for many years in investment management and now a very experienced Chair, Non-Executive Director and advisor, Sarah has a variety of interests and roles including Chairing Polar Capital Technology Trust and serving as a NED on the Board of the World Healthcare Trust. Sarah has an impressive track record in both the private and voluntary sectors.

As part of her talk, Sarah addressed the possible impacts of intergenerational wealth transfer, looking at it from a broader stance than just financial effects. She talked candidly about the effect it might have on inequality and social mobility, which undoubtedly adds huge complexity to the future of wealth transfer for society as a whole. She also questioned whether the new found wealth for those inheriting would also negate some of the drive and determination of a small part of that generation, being those qualities which had in part created the wealth over the last 50 years. At the same time, it could lead to the alienation of those who did not benefit from this transfer.

In her thought-provoking speech, Sarah expressed her ideas on the need for adaptation and creativity due to forthcoming technology, the creation of new jobs which previously had not existed and the need to adapt in order to drive our economy going forward. Furthermore, she discussed the increasing need to think about the society we are handing wealth into.

Sarah concluded by emphasising the fact that diversity and diversity of thought were key and of the need to embrace this quickly. Creating a dynamic, creative and innovative society where everyone has the chance to create wealth was at the forefront of her message.

“Norman Broadbent Group was delighted to introduce Sarah as a speaker to the Cornhill Club and our thanks to her for such an informative and interesting talk, enjoyed by all.” Commented Norman Broadbent Interim Managing Director Angela Hickmore

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Video 1: Norman Broadbent Transport & Infrastructure Breakfast, The Impending Transport Revolution

The Norman Broadbent Group are delighted to release the first of 16 videos from our hugely successful Transport & Infrastructure breakfast event.

The incredibly insightful two hour session featured Richard Threlfall, Global Head of Public Transport, Partner and Head of Infrastructure Building & Construction at KPMG.

To request exclusive access to the entire video series, please email nick.behan@normanbroadbentinterim.com.

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Further Additions to the Norman Broadbent Group

“These high quality additions to our team are yet further examples of our commitment to long-term strategic growth and our ability to attract great talent to the Norman Broadbent Group”

Mike Brennan Group, CEO

Norman Broadbent Group – the established and trusted corporate advisor to clients ranging from established corporations to high-growth innovators – is pleased to announce a series of appointments across its Executive Search, Senior Interim Management, Solutions and Research & Insight teams. Recognised for their expertise in leadership and senior-level Talent Acquisition & Advisory services, Norman Broadbent partners with clients to help them anticipate and resolve their human capital challenges in innovative, cost effective and time efficient ways.

Group CEO, Mike Brennan, said: “We are delighted to welcome Neil Pilkington, Jonathan Stringer, Andy Haldenby, Tony Vickers and Philippa Dunlop to the Norman Broadbent Group. As the world of work changes, clients are rightly demanding more from their executive search partners and increasingly want fresh thinking and more value added search solutions. Our new colleagues have a solutions-orientated approach to Talent Acquisition which is in line with our business philosophy and how we want to partner with our clients. Our integrated portfolio of service offerings of Search, Interim and Solutions, coupled with a strong problem-solving mind-set, enables us to access and deliver exceptional talent to meet their needs”.

Neil Pilkington joins the Norman Broadbent Executive Search TMT & Digital Practice to specialise in the CTO/CIO market. During his 20 year search career Neil has handled assignments across Insurance, Construction, FMCG, Retail, Infrastructure, Biotech, Supply Chain/Logistics, Retail Financial Services, Transport and Public Sector.

Jonathan Stringer joins Norman Broadbent Interim Management as a Director specialising in Finance function. During his 18 year career, Jonathan has delivered multiple interim assignments within listed businesses and fast growing SME’s across a broad range of industries both at home and abroad. As a specialist in the Interim space, Jonathan specialises in working with senior Interim finance professionals.

Andy Haldenby also joins Norman Broadbent Interim Management in a business development role working closely with the NBIM team and wider business to help identify new Interim assignments. Over the past 20 years, Andy has built and run executive recruitment teams working with clients across the public and private sectors.

Tony Vickers joins NB:Solutions as the Retail & Consumer Head of Practice. During his 15 year search career, Tony has worked on behalf of numerous established and high-growth retail brands across all key disciplines at mid to senior level and has a particular expertise in fashion and luxury brands.
Phillippa Dunlop joins Norman Broadbent’s Research & Insight team where she will support the TMT and Digital Practice. During the course of her 17 year career in research and search, Phillippa has delivered multiple executive search assignments for a range of clients from large corporates through to smaller entrepreneurial businesses.

About Norman Broadbent Group Plc: Norman Broadbent Group (NBB) is a provider of time efficient, cost effective Talent Acquisition & Advisory services through its expertise in Board and Executive Search, Senior Interim Management, project-based Talent Solutions, Talent Advisory, Research & Insight and Leadership Consulting. Clients range from established corporations to high-growth innovators. For further information, please contact our Group CEO, Mike Brennan, on 020 7484 0000 or via mike.brennan@normanbroadbent.com

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Norman Broadbent Appoints Tim Hammett Head of Executive Search

“We are delighted to welcome Tim to the Norman Broadbent Group and our Senior Leadership Team. As the world of work changes, clients are quite rightly becoming more demanding of executive search firms. They increasingly want to see new, more value added and integrated search solutions emerging. Tim has a rare, solutions-orientated approach to search, which is in line with our business philosophy and how we want to partner with our clients. In an ever-changing business world, clients need access to the widest possible range of senior management talent solutions, giving them the corporate agility to achieve their objectives. Our integrated portfolio of service offerings of Search, Interim, Insight, Consulting and Solutions, coupled with a strong problem-solving mind-set, enables us to access and deliver exceptional talent to meet their needs”.

Mike Brennan Group, CEO

The board (the “Board”) of Norman Broadbent (AIM: NBB) – a provider of time efficient, cost effectiveBoard & Executive Search, Senior Interim Management, Talent Solutions, Insight and Leadership Consulting services to companies ranging from established corporations to high-growth innovators – is pleased to announce the appointment of Tim Hammett as Managing Partner & Head of Executive Search.

The appointment of Tim completes the Company’s proposed senior management hires following the £2.3 million subscription undertaken in September 2016. The Company’s Senior Leadership Team now comprises heads of Executive Search, Board Search, Senior Interim Management, Insight and Talent Solutions all of whom report to Mike Brennan, Chief Executive of the Company.

The Board considers that the creation of a Senior Leadership Team with clear lines of management control is a key step in providing a solid foundation to scale the Group’s businesses, with the aim of facilitating growth in shareholder value.

About Tim Hammett: Tim has a 17-year track record of success within executive search and an indepth knowledge of the C-level market. On leaving the British Army, he spent 15 successful years in the corporate world rising to become Global Sales & Marketing Director for a UK Plc. He entered search in 2000 and has worked at a senior level with firms such as Heidrick & Struggles, Whitehead Mann and Augmentum. Operating at Partner and Head of Practice level, he has covered markets such as Consumer, Life Sciences, Telco and Media. Besides his executive search experience, he has also had management responsibility for leading a Senior Interim Practice for a leading global search firm and managed teams across London, Hong Kong, Dubai and Singapore.

For further information please contact:

Norman Broadbent plc
Mike Brennan/James Webber
020 7484 0000

Allenby Capital
Virginia Bull/Liz Kirchner
020 3328 5656

Notes to Editors:

Norman Broadbent plc is a provider of time efficient, cost effective Board & Executive Search, Senior Interim Management, Solutions, Insight and Leadership Consulting services to companies ranging from established corporations to high-growth innovators.

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Norman Broadbent Group invests further for growth

“This appointment is yet another example of our commitment to strategic investment and measured growth.”

Mike Brennan Group, CEO

Norman Broadbent Group – a leading provider of Board & Executive Search, Senior Interim Management, Solutions, Insight and Leadership Consulting services to companies ranging from established corporations to high-growth innovators – is pleased to announce the appointment of Andrew Smith to a group-wide role covering strategic client development and account management.

Mike Brennan, Group CEO said “We are delighted to welcome Andrew to the Norman Broadbent Group. He will sit in a unique position within the broader group supporting and advising clients in all areas ranging from Executive Search through to Interim, Solutions and Consulting. This breadth of exposure enables him to advise and work with our teams and their clients to holistically shape the most relevant and effective solution to meet their needs.

Prior to joining Norman Broadbent, Andrew was a Director of a leading international executive search firm and latterly a UK boutique firm. During this period he worked at C-Suite level across the Technology, CIO, Retail, Leisure, Hospitality and Consumer space. Earlier in his search career he also played a key role in business development at a leading technology search firm. With over 12 years commercial experience prior to entering search, Andrew brings an interesting and valuable mix of domestic and international experience to Norman Broadbent.

For further information please contact:

Mike Brennan, Group CEO Norman Broadbent plc (020 7484 0000)

Notes to Editors:

Norman Broadbent plc is a provider of time efficient, cost effective Board & Executive Search, Senior Interim Management, Solutions, Insight and Leadership Consulting services to companies ranging from established corporations to high-growth innovators.

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